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DMO DG to x-ray Nigeria’s public debt

The Director-General of the Debt Management Office (DMO), Ms Patience Oniha, will lead other market regulators to discuss the prospects of Nigeria’s public debt at…

The Director-General of the Debt Management Office (DMO), Ms Patience Oniha, will lead other market regulators to discuss the prospects of Nigeria’s public debt at the 2022 annual workshop of the Capital Market Correspondents Association of Nigeria (CAMCAN).

The workshop, scheduled for December 3, is organised by the association as part of its efforts to contribute to the development of the country’s capital market and economy.

The theme, ‘Nigeria’s Public Debt and the Capital Market,’ the workshop will be declared open by the special guest of honour and Director-General of the Securities and Exchange Commission (SEC), Mr Lamido Yuguda, while the Chief Executive Officer of the NGX Exchange, Mr Timi Popoola, who is the guest of honour, will give insight on how the exchange is positioning itself as Africa’s investment window.

In her 14 years at the DMO, Oniha, who spearheaded the introduction of benchmark bonds to develop the domestic bond market in order to improve liquidity and create a sovereign yield curve where the public and private sectors can access long-term funds to finance Nigeria’s growth and development, will provide insight on the high-yielding opportunities in the Nigerian debt space.

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She will speak on how the country and corporates could tap into the opportunities that abound in the local market for infrastructure development funds.

She is expected to further unveil opportunities for retail investors in debt investing, as well as the commitment of the government in ensuring sound policies, and environment towards enhancing a vibrant local debt market.

Oniha led the successful issuance of Nigeria’s debut USD500 million Eurobond in January 2011 as a new source of funding for the federal government, as well as the first 30-year-tenor Eurobond in the international capital market which represents the first by a sub-Saharan country other than South Africa, and established the basis for long-term infrastructure funding for Nigeria.

Other dignitaries expected at the workshop are the Managing Director/CEO, FMDQ Exchange, Mr Bola Onadele; chairman of Association of Stockbroking Houses of Nigeria (ASHON), Mr Sam Onukwue; and President of the Chartered Institute of Stockbrokers (CIS), Mr Oluwole Adeosun.